Question

Profit of textile department comes in which side of profit and loss account?​

Answer 1

Answer:

Salary / wages are expenses by nature and falls under Profit and Loss account in financials. The accounting treatment would be, ... It is recorded in the trading account. As the expenses, both the a/cs will have debit balances and thus will be recorded on the debit side of p&l or trading a/c.

Explanation:

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